Neda (National Economic and Development Authority) Secretary Arsenio Balisacan underscored the importance of human capital development, technology adoption, and high-quality job creation in ensuring long-term economic growth for the Philippines.
Speaking at the 2025 Annual Scientific Conference and the 92nd General Membership Assembly of the National Research Council of the Philippines, Balisacan discussed the potential benefits and challenges of adopting emerging technologies such as artificial intelligence (AI) and automation.
“Without policy changes, the Philippines may face increased distress, disasters, slow progress, and widening inequality,” he said. “Artificial intelligence and robotics pose significant risks as we expect more automated tasks across industries and the displacement of low-skilled workers.”
Balisacan highlighted the need for education and skills development to keep up with technological advancements. He emphasized that collaboration with the private sector could help align workforce skills with labor market demands, addressing long-standing issues such as low learning outcomes and skills mismatches.
OFWs: Valuable asset for national development
The Neda chief identified two key opportunities that could help sustain the country’s economic progress. First, he pointed to the Philippines’ growing working-age population as a potential economic driver. He stressed that investments in education, skills training, and innovation would be necessary to improve productivity and expand employment opportunities.
Second, Balisacan cited the country’s extensive network of overseas Filipino workers as a valuable asset for national development. He said the government aims to harness its expertise through reintegration programs and stronger collaboration efforts to support economic growth.
While pushing for human capital investments, Balisacan also stressed the importance of an investment-friendly business environment to generate high-quality jobs.
“We have opened the economy further to investment and trade, improved the ease of doing business, and enhanced the transparency and predictability of the regulatory environment. With proper implementation, these initiatives aim to induce more and higher-quality job creation, technology adoption, and research and innovation,” he said.